Daily Chemical Reaction
Sprout In The Thicket – Global Ammonia Markets To Stay Strong Relative to Peers, Face A Sunny Outlook
- We think the global ammonia market will stay tighter for longer than most other chemical chains, and we discuss myriad factors that are in its favor long term.
- Brent Crude and Ex-US naphtha values have increased relative to US natural gas and USGC ethane WoW – a plus for US chemical producers at the feedstock level.
- We take a positive view of H.B. Fuller price hike initiatives that were more aggressive and early than many peers, per our view, and highlight risks surrounding Celanese.
- We think the global hydrogen market will grow considerably through 2050, and we discuss why most zero-emission supply chain targets face significant challenges.
- We discuss KB Home 3Q22 results and our near-term concerns with housing demand as negative indicators, and we highlight the movement upwards in US interest rates.
See PDF below for all charts, tables and diagrams